*Letter Shared By Opposition Politician Says He Rejected
*FG Counters, Saying He Accepted
By our reporter
There was palpable drama this evening following conflicting reports on whether Muhammed Babangida, son of Nigeria’s former Military President, Gen. Ibrahim Badamasi Babangida (popularly called IBB), had rejected or accepted his appointment as Chairman, Bank of Industry (BOA) made by President Bola Tinubu three days ago.
While a letter rejecting the appointment, purportedly signed by the younger Babangida and dated July 21 (today), was shared by Publisher of Ovation magazine, Dele Momodu, the Presidency swiftly denied the position, saying Babangida had accepted the appointment.
The Presidency added that Babangida had issued a press release to that effect.
Background To Current Situation
Last Friday, presidential spokesman,Bayo Onanuga, announced a list of fresh appointments made by the President which included the younger Babangida.
Shortly after the announcement, the opposition coalition African Democratic Congress (ADC) claimed that the appointment of son of the respected former leader, who hails from Niger State, was an attempt to allegedly buy the North ahead of the crucial 2027 elections in which Tinubu is seeking re-election.
However, in the alleged letter of rejection of the appointment, a copy of which was obtained by People&Politics today, Mohammed Babangida allegedly explained his reason for not accepting the appointment.
The purported letter was dated July 21, 2025.
BOA’s Mission And Importance Of Top Seat
On its website, BOA details its mission: “It’s our mandate to provide agricultural credit facilities to support all agricultural value chain activities, provide non-agricultural micro credit, Savings mobilization, capacity development.
“This we achieve through cooperative development of agricultural information system and provision of technical support and financial advisory services.”
Industry followers say the bank’s loans for different portfolios of agricultural expansion, including export, routinely runs into tons of billions of Naira, while sitting atop the bank’s board is said to enable the office holder to dispense valuable service and, possibly, patronage.
Purported Rejection Letter
The purported rejection letter, in which Babangida allegedly cited personal and professional considerations, was titled: ‘Declining Appointment as Chairman, Bank of Agriculture’.
It read: “I wish to express my sincere gratitude for the honour of being considered and appointed as chairman of the Bank of Agriculture. It is a true privilege to be thought worthy of such a strategic role in advancing the nation’s agricultural and economic development.
“After careful reflection and consultation, I have decided, with utmost respect, to decline the appointment. This decision was not made lightly.
“It stems from a convergence of personal and professional considerations, which, at this time, would not allow me to serve with the level of focus and commitment the position rightly demands.
“Your Excellency, I remain fully committed to the vision of a prosperous and self-sufficient Nigeria under your leadership. I continue to hold your administration in the highest regard and stand ready to support national development in other ways where my expertise may be of service.
“Thank you once again for your confidence in me. I am deeply appreciative.”
Immediate reaction came from politician and Publisher of Ovation magazine, Dele Momodu.
On Instagram, he wrote: “Well done, Muhammed, for rejecting a Greek gift.”
Muhammad Babangida, an alumnus of the European University in Montreux, Switzerland, where he earned a Bachelor’s degree in Business Administration and a Master’s degree in Public Relations and Business Communication, later attended Harvard Business School’s Executive Program on Corporate Governance in 2002.
Presidency Reacts, Dismisses ‘Rejection’ Letter
As the letter hit public consciousness, the Presidency refuted claims that Muhammed Babangida rejected the said appointment.
It stated that, to the contrary, Babangida accepted to serve and had expressed gratitude to President Tinubu over the appointment.
In a post on X, a presidential media aide, Olusegun Dada, wrote that Babangida had waved off reports of the rejection as false.
Dada wrote: “Muhammed Babangida Accepts BOA Chairmanship. Thanks President Tinubu.
“Muhammed Babangida has officially accepted his appointment as Chairman of the Bank of Agriculture (BOA), expressing deep gratitude to President Bola Ahmed Tinubu for the trust reposed in him.
“In a press statement released Monday, Babangida dismissed as false and malicious the reports circulating online suggesting he had rejected the appointment. He described such claims as a deliberate attempt to mislead the public and tarnish the image of the Tinubu administration.
“We wish to clarify that Muhammed gratefully accepts the appointment as Chairman of the Bank of Agriculture, as announced by the federal government, and extends his sincere appreciation to President Tinubu for the trust and confidence bestowed upon him.”
The Presidency assured that those behind the fake reports would be identified and held accountable.
“We also want to assure the public that those spreading these falsehoods will be thoroughly investigated and brought to justice. We remain committed to transparency, accountability, and fostering unity within our nation,” the Presidency added.
It called on Nigerians to remain discerning and verify information from credible sources.
“Muhammed Babangida’s appointment was among several strategic appointments approved by President Tinubu to strengthen leadership across key government institutions,” Dada added.
